Illuminati or Matt007 or others do you know what the present Council charges are to vacant land? Is it around $25 – 30K?I have been looking at property options and have been reconsidering getting the options to split the block myself, then sell the land and keep the original house or something like that… The figures look good even if I just sold…[Read more]

Thanks for your thoughts and comments, Illum & Matt I really appreciate them – particularly the one on treating it all just as numbers and so not being emotionally attached. The good thing about the deal would be that I would by-pass estate agents and their % fees.Once the PD has given me his figures for the deal and the contract I will get them…[Read more]

Thanks for all of your comments since they have helped me prepare for the meeting I had with the property developer.The PD didn't know about my mortgage ($240K) and has revised his offer to providing me with a new house with a mortgage of $100K which is positively geared to the tune of about $100 per week in my pocket – so this includes all costs…[Read more]

Thanks Illuminati, Matt007 and others – I go to a meeting with the Property Developer tomorrow, Tuesday, much more prepared and more clear. I will listen and ask for clarity and if you are still interested in my little bubble I will let you know what transpires. I can see that my equity does increase with a new deal so I will have to tread as a…[Read more]

illuminati wrote:
equity is basically the money that would be yours if you sold the property. So if you had a deposit of 100,000 and purchased the place for 300,000 with a 200,000 loan and it went up in value to 400,000. then your deposit 100,000 plus the increase in value 100,000 is your equity. or you can say the value of the house 400,000…[Read more]

Thanks for your comments Illuminati and Matt007 – can you help me further?I have been told to look at the build proposals and choose the best house!If the house is worth $400,000 what is the equity from this.The developer rekons the new house will be worth $350,000, but his is probably exaggerated since to get 5 houses to fit on 1472m2 is quite…[Read more]